Business development is no longer the special domain of a few skilled partners, an anointed rite of passage or a time-stamped phase. For you, it signifies the business of law and the foundation of your practice. Without business you will not be successful.
There is no better tool than a business plan to effectively leverage your business development initiatives and firm’s core values.
Your business plan acts as your profitability blueprint that provides you and your firm with clarity as it relates to your professional intentions and your methodology for achieving these goals.
You want your business plan to be your living business development and practice management testament in terms of your current accomplishments and projected goals as they relate to all aspects of your client development and practice management objectives for the coming year or years. You want to build in various measures of accountability, action plans that will keep you focused on all your efforts and desired outcomes.
If having a plan can be so effective, why do you and others resist committing to a business plan? For effective tips on getting past the terrifying prospect of drafting a business plan, tune in to Making Rain, video #64.